Greenwood Gearhart Inc. Has $330,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Greenwood Gearhart Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 46.0% in the first quarter, Holdings Channel reports. The firm owned 5,350 shares of the network equipment provider’s stock after selling 4,566 shares during the quarter. Greenwood Gearhart Inc.’s holdings in Cisco Systems were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CSCO. Glass Jacobson Investment Advisors llc lifted its position in Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after purchasing an additional 166 shares during the period. Legacy Financial Group Inc. increased its holdings in Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. increased its stake in shares of Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock valued at $1,028,000 after buying an additional 172 shares in the last quarter. Lynx Investment Advisory increased its stake in shares of Cisco Systems by 3.9% in the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider’s stock valued at $272,000 after buying an additional 174 shares in the last quarter. Finally, EdgeRock Capital LLC increased its stake in shares of Cisco Systems by 3.9% in the first quarter. EdgeRock Capital LLC now owns 5,232 shares of the network equipment provider’s stock valued at $323,000 after buying an additional 197 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the transaction, the executive vice president directly owned 177,027 shares of the company’s stock, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last 90 days. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CSCO. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price objective on the stock. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.35.

Cisco Systems Stock Performance

CSCO traded down $0.11 during trading on Tuesday, hitting $68.23. The company’s stock had a trading volume of 2,050,440 shares, compared to its average volume of 20,209,983. The business’s 50 day simple moving average is $65.84 and its 200-day simple moving average is $62.13. The firm has a market cap of $270.18 billion, a PE ratio of 27.89, a P/E/G ratio of 4.07 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.40%. Cisco Systems’s payout ratio is 66.94%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.